India To Extend US$100 million Lines of Credit To Zimbabwe

“India would assist Zimbabwe in reducing its infrastructural deficit,” India’s minister of Commerce Anand Sharma said after meeting Finance minister Tendai Biti.

Sharma said the facility would help Indian companies to undertake infrastructure projects in Zimbabwe.

“A team from India would be visiting Harare next week to discuss the proposal for US$100 million for strengthening of health infrastructure.

But Sharma expressed concern over Zimbabwe’s controversial empowerment laws saying they could scare away potential Indian investors.

He also urged the country to simplifying the issuing of visas to businesspeople especially those from India.

“It was suggested that a one year multiple entry visa could be issued to encourage potential Indian investors visiting Zimbabwe,” Sharma said.

The minister said his country was planning to open a rural technology part and a food testing laboratory in Zimbabwe.